Noida, Gurgaon, Bengaluru register around 30 percent rent hike, highest in India
Rental prices in 13 major Indian cities surged 16% year-on-year in the March quarter, with Greater Noida, Gurugram, and Bengaluru seeing the highest increases. Demand for rental units in the Rs 10,000 to Rs 30,000 range dominated, accounting for 42% of total demand. However, supply only increased marginally, leading to a mismatch between demand and availability. Abhishek Bhadra, Head of Research at Magicbricks, attributes the surge in rents to the resumption of office operations since 2022, offering higher yields to landlords.